Quote from: Idrisu on August 13, 2018, 06:37:54 AM

Quote from: cellard on August 11, 2018, 05:32:55 PM

As we approached sub $6k and actually hit $5.9k... we see another huge pump to $6400. Impressive, a $500 dollar move up just like that, on a single candle. Someone bought a pretty decent amount of coins.

The theory of how that $5k-6k price range is the diamond solid ground in which miners will never let bitcoin go below is shaping up. Governments want to take the price down and tank it so they can buy it all but someone (maybe rich miners and other whales) keep using that range as the reverse point. Let's see if it holds. We have touched this same point so many times that the theory might be right.

We should not celebrate this as the market is generally bearish. I think we are going to have corrections back to below $6000 in days to come as investors are having doubts of ETF approval.

I still don't think price an fall below $6000 without ETF rejection. doubts are not enough reason for people to start selling their coins and for the buyers (the buy support at $6k) to stop buying as we were proven a day before. but if ETF is rejected (which is very likely!) we can see a big panic sell drop.